YEREVAN, February 5. /ARKA/. New bond issuances are expected in Armenia this year, Martin Galstyan, a member of the Central Bank Board, said in an interview with Civilnet the day before.
He said the current year will be quite active in terms of placing bonds on the market. ‘We will come up with a number of initiatives, to be designed to help boost the local securities market,” Galstyan said.
Galstyan said also that some of the initiatives will be aimed at making investment companies more known and open so that more interested economic entities make investments.
On September 26, 2019, Armenia’s Ministry of Finance, placed $500 million worth of Eurobonds on the international capital market with a 10-year maturity and 3.95% coupon yield, which is significantly lower than the coupon yield of the bonds of the previous two issues.
Armenia first issued $700 million worth dollar-denominated bonds in September 2013 at the yield of 6.25 percent and a maturity of 7 years. The bulk of $700 million was used to repay a $500 million Russian loan ten years ahead of schedule. The second issue was carried out in March 2015 in the amount of $500 million with a yield of 7.25% and a maturity period of 10 years. .
